Hi,

We are into typical type of business, where entire our collection is not equal to revenue. Let me give a hypothetical example - We are company A and we are providing service to company B. Let's assume that total money that we collect from company B is Rs.5,000. Out of this, Rs.1,000 is revenue of company A, and remaining amount of Rs.4,000 is just collected and passed on to another Company C, and hence, it is treated as liability. So, in this case, accounting entries pre-GST were as follows:

Dr. Company B Rs.5,000
Cr. Revenue Rs.1,000
Cr. Company C Rs.4,000
(Rs.1,000 is inclusive of tax, and hence, it will be split accordingly while posting actual entries)

I agree that we will have to put SAC code on our invoice for Rs.1,000 which is going to be treated as our revenue. However, with regard to Rs.4,000 (which is not our revenue at all!), how should this be shown on invoice, and how will it impact on GST compliance procedures?

Is there any suggestions from GST compliance point of view?

Regards,
Rajen

⁠What would be treatment of goods which is remain in transit at 31, July and received during August.Should we verify gst of these goods in gstr 2. Will gst benefit be carried forward to next month, if we don't verify it?

I am working in a Travel Agent Company what is the GST Rate will applicable to charge and how GST will caciculate on bills

Dear Supporters,
My Grandmother don't have Aadhar card, but she has taxable income in the AY 2017-18. But, in the middle of the year, she was expired. She is not a super senior citizen in the 2017-18.

How to upload the return then?

Even if we give physically also, they are not accepting physical forms. What we must do now?

Please suggest me as soon as possible.


Regards
A. Srikar

An individual has received compensation (having 3 components) thru NHAI for compulsory acquisition of land under Land Acquisition Act, 2013. The land is non-agriculture and located in urban area. The compensation received has 3 components-

1. Cost of Land at current Market Value
2. Compensation for Rehabilitation
3. Interest on above combined amount

Compensation received is tax free and interest has to be taxed under "Income from Other Sources" with 50% deduction available under Sec 57(iv). My query is whether the cost of land received shall be treated as part of the award/compensation and be tax free or whether it will be taxed under Capital Gains.

Hi,

we are not understanding the difference between regular washing machine and laundry-type washing machine

As per CBEC -Household or laundry-type washing machines, including machines which both wash and dry
HSN Code -8450

please clarfy

Can anyone explain me how to deal with the proposed dividend in CFS as per the revised AS-4( as AS-4 had been amended and that proposed dividend need not be adjusted, just disclosure by way of notes is sufficient)

Wether Foreign Savings bank account Interest is eligible for deduction U/S 80TTA for residents

Hi,
Our company has manufacturer status. Our main revenue is from trading by importing the goods. We supply goods and services to SEZ also. Earlier, we obtain form A1/A2 from SEZ unit for supply of goods/services. Please explain what is the procedure to follow now? I understand that we are not eligible for LUT as we do satisfy the inward remittance condition (minimum of 1 crore). Hence, please advise how to obtain bond in place of LUT and how to use it.

I had taken a loan of Rs.20.00 lac from Bank for building/constructing house.during 2010. My house has been completed fully, but my bank loan has not been fully repaid till date. May I claim deduction against interest paid on the loan ?